Need to Reduce Compliance Complexity Spurs Adoption of Community Specific Clouds, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Community Cloud. The global market for Community Cloud is projected to reach US$3.1 billion by 2020, driven by the growing need among organizations to reduce compliance costs, against a backdrop of increased enforcement of industry specific regulations.

Community Cloud: A Global Strategic Business Report

San Jose, California (PRWEB)May 28, 2015

Follow us on LinkedIn – Cloud architectures, be it public, private or hybrid, have helped revolutionize the way organizations deploy and finance their IT infrastructure. Cost savings, agility, flexibility, and scalability represent the numerous benefits offered by cloud computing. However, these traditional cloud-based deployments mainly focus on horizontal solutions with very little emphasis placed on industry-specific needs in terms of security or functionality. Against this backdrop, there is growing interest in ‘community cloud’, a new dimension of cloud computing, which promises to bring a host of benefits to organizations sharing similar business concerns. Community clouds flaunt the ability to address key unmet needs of conventional cloud computing services. As a multi-tenant cloud computing model, where computing resources are shared among several users, community cloud has a strong resemblance to public cloud. However, unlike the latter the cloud resources are shared by specific business communities that share similar security, privacy, compliance and performance needs.

Driven by the increased enforcement of industry specific regulations, community cloud has been gaining prominence in recent years and has currently carved a niche for itself in the cloud computing industry. Although still in infancy and witnessing cautious adoption, community cloud is all set to explode in popularity over the next few years as more and more organizations, look to tap the benefits of this model. Already several private organizations and government sector agencies with shared concerns and requirements have embraced community cloud. Investments on community cloud including software, hardware and services are witnessing steady gains. Growing focus on data privacy, regulatory compliance, high performance and low latency computing capabilities are factors spurring the increase in organizational spending on community cloud. Increasing budgetary outlays for disruptive IT technologies and the competitive need to embrace new computing technologies that change the way businesses operate will encourage organizations to invest in community cloud software and hardware.

Increasing focus on cost rationalization will also drive investments on community cloud, given its ability to provide higher cost savings than private clouds, with the same level of security and privacy. Additionally, growing adoption of green computing initiatives aimed at addressing growing environmental concerns due to rising number of data centers and servers will also drive the growth momentum for community cloud. Government agencies, BFSI and healthcare industries are currently major end-users of community cloud. Small and medium businesses from key end-use industries, for instance, small clinics and diagnostic centers from healthcare industry, will leverage the advantages of community cloud. Huge cost savings enabled by the shared costs model of community cloud will especially attract scores of SMB to deploy this cloud model for their computing requirements in the coming years.

As stated by the new market research report on Community Cloud, the United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 37.3 % over the analysis period. The growth in the region is spearheaded by India and China, where economic growth is encouraging businesses to seek IT expansion.

The research report titled “Community Cloud: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the United States, Canada, Japan, Europe (Germany, UK, and Rest of Europe), Asia-Pacific, (China and Rest of Asia-Pacific) Latin America and Rest of World.

For more details about this comprehensive market research report, please click here

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.